HashiCorp (NASDAQ:HCP) Reaches New 12-Month High – Here’s What Happened

HashiCorp, Inc. (NASDAQ:HCP) reached a new 52-week high on Wednesday . The stock traded as high as $34.47 and last traded at $34.46, with a volume of 313120 shares trading hands. The stock had previously closed at $34.37.

Analyst Ratings Changes

HCP has been the topic of several recent research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Up 0.1 %

The company has a market capitalization of $7.05 billion, a P/E ratio of -56.56 and a beta of 1.18. The firm has a 50-day moving average price of $34.24 and a two-hundred day moving average price of $33.96.

Insider Buying and Selling at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,041,600. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,229 shares of company stock valued at $3,441,256 in the last ninety days. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several large investors have recently modified their holdings of HCP. Vanguard Group Inc. boosted its stake in HashiCorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after buying an additional 611,447 shares in the last quarter. Norges Bank acquired a new stake in shares of HashiCorp in the 4th quarter valued at $161,190,000. Westchester Capital Management LLC grew its holdings in shares of HashiCorp by 0.5% in the 4th quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock worth $110,076,000 after purchasing an additional 17,321 shares during the last quarter. Geode Capital Management LLC increased its position in shares of HashiCorp by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock worth $88,465,000 after purchasing an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in HashiCorp by 11.8% during the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after purchasing an additional 252,700 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors.

About HashiCorp

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.